Animoca Brands has raised another $10 million for Mocaverse, a platform for building an open metaverse.

Participating investors include OKX Ventures, CMCC Global, Hong Shan (formerly Sequoia China), with MOCA Coin attached.

Animoca had previously raised $31.88 million last year for Mocaverse to build the interoperable infrastructure technology stack for consumer crypto adoption with large user base ecosystems. The investment comes with a free warrant for utility token MOCA Coin with a fully diluted implied value (FDV) of $1 billion, in a structure that mirrors the two previously announced tranches.

Yat Siu, executive chairman of Animoca Brands, said in a statement: “With Mocaverse and its Realm Network, we are bringing the Web3 interoperability philosophy to life, driving decentralization and shared network effects across the board. of the Web3 ecosystem. The raise announced today includes participation from esteemed and strategically important investors, and we are honored by this level of support as we work to advance digital property rights, interoperability and the evolution of the Internet towards more equitable decentralized systems.

This round of funding included participation from OKX Ventures, CMCC Global, HongShan (formerly Sequoia China), Republic Crypto, Decima Fund, Kingsway Capital and others, with the aim of accelerating and expanding Mocaverse’s operations in the context of the considerable growth of the project since its first fundraising.

Kenneth Shek, project manager for Mocaverse, said in a statement: “Our mission is to put crypto in the hands of hundreds of millions of users, which requires building fan bases that attract individuals to a deeply personal level. We are building Realm Network to decentralize these integration efforts for each pioneer in the mainstream crypto space across multiple verticals, with the ultimate goal of generating a network effect between each of them.

The company will use the new funding to achieve its goal of accelerating mass adoption and interoperability of Web3, including continuing to evolve and build Mocaverse, the interoperable infrastructure layer of account, identity and reputation for consumer adoption of crypto.

This includes Realm SDK, the interoperable software development kit (SDK) that allows partners to build their own reputation-based ecosystems with corresponding application experiences interoperable with any ecosystems built on top of the Moca Network.

Earlier this year, Mocaverse launched Moca ID, the on-chain identity pilot system for the Realm SDK.

Siu discussed the opportunities offered by the new decentralized identifier (DID) in an essay published in January, arguing that “digital lives will become our platforms, and we will rightfully own these platforms and their (economic) benefits connected via Web3 “.

Since launch, over 1.79 million Moca IDs have been registered and over 160 Web3 activations have been launched with partners such as Pixels, Blocklords, Trust Wallet, OKX Wallet and more.

Mocaverse will continue to expand the Moca Network and drive consumer adoption of crypto by integrating large user base ecosystems through partnerships with large companies and communities. Mocaverse recently welcomed partners Anime Foundation, MyAnimeList and One Football as Realm to onboard a combined potential of over 218 million monthly active users to the Moca network through the new Anime ID and Football ID identity systems.

Additionally, Mocaverse has entered into a strategic partnership with the TON Foundation to onboard and cross-pollinate up to over 900 million active users on Telegram Messenger across key cultural sectors such as casual social gaming, sports, IP experiences , and more.

In a statement, OKX Ventures Partner Jeff Ren said: “We are excited to invest in Animoca Brands and Mocaverse, a project that perfectly represents the dynamic Animoca Brands ecosystem. By creating an interoperable infrastructure layer for consumer applications, Mocaverse integrates diverse cultural economies and maximizes network effects. At the same time, we are also excited to have established a strategic partnership with OKX Wallet, Mocaverse and X Layer to jointly explore new solutions in the Web3 space. This investment demonstrates our enthusiasm and determination to promote the development of the Web3 world.

Martin Baumann, managing partner of CMCC Global, said in a statement: “Animoca Brands is Asia’s innovation leader in blockchain-based consumer applications. Yat Siu and his team have unparalleled experience in building leading, globally recognized blockchain and metaverse applications such as games, platforms, NFT-related applications, etc. At CMCC Global, we have identified and invested at seed stage in many leading blockchain infrastructure protocols such as Solana, Cosmos, Ethereum and others. We predict that the next big wave in the blockchain industry will be focused on consumer and mass market adoption, and Animoca Brands’ Mocaverse is poised to join these defining industry players. This is why Mocaverse has become CMCC Global’s largest investment to date.

Ken Kitahara, General Partner of Decima Fund, said in a statement: “We are proud to support Yat, Animoca Brands and the Mocaverse team in their journey to bring clarity to on-chain social graphics and activities, and we are looking forward to exploring unique Japanese opportunities. for Mocaverse.

Increase Details

Animoca Brands enters into Simple Agreements for Future Equity (SAFE) with various sophisticated and professional investors to raise a total of $10 million (approximately A$15.4 million) at a price of A$4.50 per share. The SAFEs will automatically convert into ordinary shares after six months.

The number of new shares to be issued will be determined by the AUD:USD exchange rate at the time of settlement. The number of outstanding shares of the Company’s common stock, fully paid, is 1,923,933,217. As part of this increase, the Company has granted participating investors a free utility token warrant on a 1:1 dollar basis. with a 30-month vesting schedule, priced at 11.3 cents per token on a fully diluted value (FDV) basis. for MOCA Coin of 1 billion dollars.